Woah, this is a default personal text! Edit your profile to change this to what you like!
Godlike Member
|
Post by oujour76 on Jan 21, 2017 18:39:57 GMT -5
Quite honestly, I don't know enough of the specifics (or the numbers) to argue this one way or the other. So, I won't.
Here's a pretty good explanation of the issue. This is an article discussing the slow climb of FHA back to solvency. www.bloomberg.com/news/articles/2014-11-17/fha-insurance-fund-is-back-in-the-black-actuarial-report-showsFrom the article: Consumer advocates and industry groups including the National Association of Realtors and the Mortgage Bankers Association have been urging the FHA to consider cutting its costs because many first-time buyers and families with modest incomes are priced out of the market.
The agency might need to cut its prices to prevent itself from being left with a pool of lower-credit borrowers as those with better credit turn to cheaper loans backed by Fannie Mae and Freddie Mac, MBA President and Chief Executive Officer David H. Stevens said in a telephone interview.
The actuarial report “clearly seems to highlight the possibility that there are some excess fees being charged, at a time when perhaps they should be more focused on ensuring relatively fair access to credit,” said Stevens, who was FHA commissioner from 2009 until 2011. |
|
THE BIGGEST DOUCHE OF THE FULL SEASON TOURNAMENT - 2021
Godlike Member
|
Post by daleko on Jan 21, 2017 18:49:57 GMT -5
Clearly Realtors are hardly unbiased. They take their money on the front end and volume is where they make it. As do Bankers withe risk moderated by YOU the taxpayer. If the analysis suggests not to raise the rate w the FHA a performing asset than it shouldn't. If it does it should. I'll say it again. Make any argument you like about the reasons for the reversal. It is what it is. If Trump's actions hurt first-time homebuyers ability to purchase a home, then that must be the specific intent. Own it and let's move on.
Again, and I looked but couldn't find, what is the % of FHA loans V all loans? What % of those are first time buyers? What is the failure rate and how does that compare to the "other vehicle" for funding home loans. Maybe the answer is a more rigid selection process involving who is least likely not not repay the loan. Which would drive down the premium. |
|
Enter your message here...
Godlike Member
|
Post by trnyerheadncough on Jan 21, 2017 19:32:48 GMT -5
Here's a pretty good explanation of the issue. This is an article discussing the slow climb of FHA back to solvency. www.bloomberg.com/news/articles/2014-11-17/fha-insurance-fund-is-back-in-the-black-actuarial-report-showsFrom the article: Consumer advocates and industry groups including the National Association of Realtors and the Mortgage Bankers Association have been urging the FHA to consider cutting its costs because many first-time buyers and families with modest incomes are priced out of the market.
The agency might need to cut its prices to prevent itself from being left with a pool of lower-credit borrowers as those with better credit turn to cheaper loans backed by Fannie Mae and Freddie Mac, MBA President and Chief Executive Officer David H. Stevens said in a telephone interview.
The actuarial report “clearly seems to highlight the possibility that there are some excess fees being charged, at a time when perhaps they should be more focused on ensuring relatively fair access to credit,” said Stevens, who was FHA commissioner from 2009 until 2011.To try to make Trump look bad. Politics is alive and well. |
|
Woah, this is a default personal text! Edit your profile to change this to what you like!
Godlike Member
|
Post by bamorin on Jan 21, 2017 19:45:11 GMT -5
This obvious question is...if cutting the fees was necessary, why did the Obama administration wait until a week before leaving office? To try to make Trump look bad. Politics is alive and well. yep, similar to the 11th hour exec order on water quality Clinton signed. unless every town pretty much had a distillery, they were violation. Bush set it aside.....the loony left said he wants us all to drink arsenic. |
|
Woah, this is a default personal text! Edit your profile to change this to what you like!
Godlike Member
|
Post by AlaCowboy on Jan 21, 2017 20:16:29 GMT -5
I pointed out that in his 8 years in the presidency that Obama raised those FHA rates 5 times, and asked Walter why he never expressed his outrage. You would think that a Leftist Liberal, defender of the poor, disadvantaged, oppressed minorities, would speak out against such an evil act.
Walter has yet to respond. |
|
